In November of the current year, Beth withdrew $24,000 from her spousal RRSP. Her husband had contributed

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In November of the current year, Beth withdrew $24,000 from her spousal RRSP. Her husband had contributed $2,500 to the spousal RRSP on February 1st of each of the last 20 years. She also withdrew $8,000 from her TFSA. All contributions to her TFSA were made by her husband.
Determine the tax implications of the RRSP withdrawal. Income tax reference: ITA 56(1)(h), 146.2, 146(8.3).
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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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